Estate of Denial: If Whitney Houston’s heirs are counting on royalties from her record company Sony, they may soon feel like paupers.
On Wednesday, music-industry blogger Wayne Rosso quoted a label executive “familiar with Sony’s accounting” who said the late singer’s estate probably won’t see any royalty checks from her record label “in our lifetime” — and maybe longer — thanks in part to the number of advances and loans she took from the $100 million deal she cut with Sony Music in 2001.
On Wednesday, Rosso, an outspoken veteran of the music business who has consulted for CBS, Island, MCA, Arista and RCA Records, to name just a few labels, posted a report in his Wayne’s World blog titled, “Whitney to Sony: I Will Always Owe You.”
In it, Rosso estimated that Houston would have to posthumously sell more than 5 million albums “to repay her advances and start to get royalty checks. ”
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